Business
Trading Statement
Trading Statement.
About this update from Yougov Plc
[{"type":"text","content":"\n \n \n RNS Number : 6837U\n YouGov PLC\n 31 July 2020\n \n \n \n \n \n31 July 2020\n YouGov plc\n \n (\"YouGov\" or \"the Group\")\n Pre-Close Trading Update and Notice of Results\n YouGov, the international research data and analytics group, today announces its pre-close trading update for the full year ending 31 July 2020.\n \n The Group is pleased to report that trading continues to be in line with the Board's expectations for the full year. Despite economic uncertainty over the past few months, it has performed well through this period, delivering growth in both revenue and profit for the full year. \n \n \n While the Group has been very resilient and is yet to see any material impact of COVID-19 on its business, it continues to actively monitor this fluid situation, maintaining tight cost controls and closely managing cash. YouGov has not taken any furlough funding and has maintained full continuity of service during this period. We retain a focus on employee well-being and safety while the majority of our workforce continues to work from home.\n \n \n During the second half, Data Products continues to be the standout division, maintaining its strong performance in the UK and the US. Data Services' performance has been largely steady, as decline in typical project work has been offset by an increase in COVID-related research. We have seen solid performance in Custom Research, with the longstanding contract in Kurdistan wound down at the end of March as expected. Our acquisition of SMG Insight, now YouGov Sport, has continued to deliver robust results despite the current environment.\n \n While some retail clients are delaying their projects due to the pandemic, the Group has seen increased opportunity from its technology clients and government work, including on COVID-19 and health-related issues.\n \n \n The Group continues to invest in its technology platform and panels as part of its current five-year plan to strengthen its data products and geographic reach. The Group remains in a comfortable cash position and has maintained flexibility during these uncertain times, while supporting our clients. \n \n \n YouGov will publish Full Year Results for the year ended 31 July 2020 on Tuesday 6 October 2020. \n \n \n \n \n \n \n Analyst/Investor Enquiries:\n \n \n \n \n \n \n \n \n \n \n &nb...